Bakery industry to register higher consumption of whipping agents in coming years
Whipping agents have been witnessing an exponential increase in the demand due to rising applications in bakery industry. Growing demand for high overrun, high foam stability, short whipping time, and pleasant milky taste will continue to fuel the consumption of whipping agents for making baked goods. As whipping agents comprise proteins, fats, and emulsifiers, the demand in aerated food products such as mousse, instant puddings, sorbets, sherbets, desserts, baked goods, and other applications is expected to escalate in near future.
The major application areas of whipping agents are identified in bakery, confectionary, and desserts. Among these, bakery is anticipated to hold the highest market value of over US$ 981 Mn by the end of 2026. Applications in desserts are foreseen to proliferate at a CAGR of 5.2% during the forecast period. Emerging regional markets are presumed to hold significant growth potential especially in baked goods, wherein consumer preference for packaged goods is expanding rapidly, owing to the influence of the Western culture, changing lifestyles, and increasing acceptance of flavored and convenience food products. Leading whipping agent manufacturers are thus focusing on targeting companies in bakery industry to increase their market share by introducing innovative whipping agents to be used in sponge cakes, pound cakes, donuts, muffins, and many more products, to improve product quality and shelf life.
New market trends to support the growth of whipping agents market
Whipping agents have been recently popularized as an alternative of egg white. Various confectionery products are developed by using egg white foam, such as chocolate-coated marshmallows and nougat. However, the production process associated with egg white poses various difficulties, such as heat and acid sensitivity, animal origin, and allergic potential. Moreover, the price fluctuation of eggs is another factor which may ultimately affect the price of the final product. Several companies are developing innovative products that can reduce the requirement of egg white foam in making aerated food products. Whipping agents is one such innovation that can help in replacing the use of egg white, which is foreseen to gain escalated traction in near future. Moreover, the demand for whipping agents will witness sustained growth, with increasing production of palm oil and growing consumption of ice-cream worldwide.
Variations in fat content and low production may hamper the market growth
Whipping cream with higher fat content helps in maintaining its shape in desserts or pastries for a longer time. Moreover, it is stiffer than the low-fat cream, which makes it an ideal ingredient for a majority bakeries and restaurants. However, variability of the fat content of the whipping cream available in may continue to hamper the growth of global whipping agents market. The research reports also showcases low penetration of whipping agents in developing regions. Companies in developing economies tend to prefer the use of emulsifiers or stabilizers over whipped cream, in baked products and ice creams. Regional growth of the whipped cream market is thus expected to be relatively poor in Asia Pacific and Middle Eastern regions.
The report covers an examination of all the industries in global market, which make use of the whipping agents and the demand of products that includes whipping agents. To get a clear insight of the market, various macro-economic factors have been also taken into consideration, such as rise in disposable income, retail sales of the products, etc.
When it comes to the overall food ingredient industry, the evolving tastes and preferences of consumers are not lost on manufacturers, as offerings have been broadened to accommodate organic and natural food products. Many established players are focusing in acquiring smaller companies which have the expertise and reputation of being pros in specific organic and natural domains. These smaller companies have deep brad loyalty, and owing to the small scale of production, it is much easier for them to come up with innovative products. These factors, combined with increasing emphasis on organic and natural, are likely to make smaller companies attractive targets for mergers and acquisitions.
In Europe, notable developments that the food and beverage industry needs to lookout for are stricter monitoring of unfair trade practices (UTPs) by the European Commission (EC). Many food and beverage manufacturers are currently assessing the risk to business once Brexit comes into effect. As the timing and full impact of Brexit is still uncertain, food and beverage companies are focusing on taking preventive action to secure their business interests.
List of factors tracked in the Food Ingredients Market Report
In the food ingredients sub-domain, the following factors have been tracked.
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
PMR collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
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